Here's a general picture of how it works and its implications for both buyers and sellers.Benefits to the Seller: The primary benefit to the seller in a "subject to" transaction is the ability to quickly unload a property without having to pay off the existing mortgage immediately.

.· The taxpayer works more than 100 hours in the business during the year, and no other staff works more hours than the taxpayer.Hiring a property management company, therefore, effectively off-loads the primary work from the landlord, allowing for the income generated by the investment to remain passive and lower tax rates than active income.

I own my primary residence outright and want to either HELOC or cash out refi.

Yep, similar to my primary regional bank lender in DFW.

I also bought a new primary residence last year and have been house hacking it.

Quote from @V.G Jason: Quote from @Carlos Ptriawan: Quote from @Marcus Auerbach: @Carlos Ptriawan yeah very low price, but would not be my choice of neighborhood.. one thing that I do notice from bay area (highest land value) and OOS property (lowest land value area) is that, home actually has more intrinsic value when located out of state, same house like that in our market is having 15 times the price, which means we only buying the land while the house itself is in much worse condition than comparable OOS property.So if someone like me that's more liberal and can accept to live in any neighborhood, I could really have a good primary house to live in out of state, for a very low price point.  

WSJ Prime is 8.5% and most primary residence/FTHB mortgages are high 6's to low 7's.

If you lived there for at leat 2 year you can sell it as a primary residnence.

As mentioned above house hacking is a great way to get started since its low money down as your primary residence, but if you already own your own home you may look into tapping into your equity and using a HELOC to help with downpayment.

In addition, I rehabbed my bathroom and kitchen myself in my primary condo.